Big companies and small innovation factories possess different advantages in a patent contest. While large firms …. Furthermore, acquisitions increase the chances for a successful innovation. -- patent contest ; sequential acquisitions … patent contest with asymmetric firms. In a pre-contest acquisition game large firms bid sequentially for small firms to …

The conventional intuition suggests that in the absence of synergy, diversification should bring neither gains nor … loses, and that gains from diversification should increase with the amount of synergy. That is, as the cash-flow from …

banks have a substantial and persistent negative impact on merging banks' revenues. We refer to merger related negative … customers and the temporary distraction of management from day-to-day operations by effecting the merger. For our analyses we … involved in 212 mergers between 1994 and 2006. We find that the negative impact of a merger on net operating revenues amounts …

This paper analyzes the effects of cross-border mergers and acquisitions (M&As) on the innovation of European firms …. The results indicate a considerable increase in post-acquisition innovation in the merged entity. This is mainly driven by … inventors based in the acquirer's country, while innovation in the target's country tends to decline. The asymmetry of effects …

This chapter summarizes the basic characteristics of patent data as an innovation indicator and reviews some of the … recent research using patent data, focusing on major developments since Griliches in 1990 [Griliches, Z. (1990). “Patent … availability of patent data on an increasingly global scale and the accompanying global spread of research using patent data. The …

equilibrium) in a differentiated duopoly with process innovation. One of the important features in this paper is that spillovers …

While the impact of M&A on R&D and innovation examined at the aggregate level left inconclusive evidence, we find that …